Accounts payable (AP) is a crucial business function that involves managing payments owed to various entities, and it requires a balance between speed and accuracy to ensure timely and correct disbursements. Effective internal controls for accounts payable are essential to mitigate risks such as fraud, late payments, noncompliance, improper invoice management, and overpayments, thereby safeguarding the business's financial health and relationships. These controls are categorized into obligation to pay, data entry, and payment entry controls, each aligning with the major steps in the payment process to ensure accurate and secure transactions. Best practices involve using digital tools for document management, segregating duties to enhance security, adopting automated data entry solutions, and considering electronic payment methods to streamline operations. Implementing these controls not only protects the business but also enhances its reliability and efficiency in financial transactions.